© Reuters. SUBMIT IMAGE: International Monetary Fund (IMF) Handling Director Kristalina Georgieva goes to the 54th yearly conference of the World Economic Online Forum, in Davos, Switzerland, January 17, 2024. REUTERS/Denis Balibouse/File Picture
By Maha El Dahan and Federico Maccioni
DUBAI (Reuters) -The handling director of the International Monetary Fund (IMF), Kristalina Georgieva, stated on Sunday she was positive about the financial outlook regardless of unpredictabilities around war and geopolitics as the worldwide economy has actually stayed durable.
In a speech at the World Federal Governments Top in Dubai, Georgieva stated the IMF would release a paper on Monday that reveals phasing out specific energy aids might conserve $336 billion in the Middle East, comparable to the economies of Iraq and Libya integrated.
She included that in addition to cost savings, removing regressive energy aids “dissuades contamination, and assists enhance social costs,” in a copy of the speech released on the IMF site.
In its newest local financial upgrade released last month, the IMF modified its GDP development projection for the Middle East and North Africa area downwards to 2.9% this year, due in part to short-term oil production cuts.
” While unpredictabilities are still high, we can be a bit more positive about the financial outlook, since the worldwide economy has actually been remarkably durable,” she stated in the speech.
Discussing the dispute in Gaza, Georgieva alerted of broadening repercussions.
” This incredibly unpredictable minute substances the difficulties of economies that are still recuperating from previous shocks. And additional widening of the dispute would worsen the financial damage,” she stated.